US inflation cools to 8.5% in July

Slowdown due to lower fuel prices

clock • 3 min read

US inflation rose 8.5% in the year through July, cooling off from the four-decade high of 9.1% in June on the back of lower fuel prices.

The latest US consumer price index, released by the Bureau of Labor Statistics today (10 August), fell below economists' expectations of a 8.7% print.  The slowdown in the inflation rate was mainly due to a drop in fuel prices. The gasoline index fell 7.7% in last month and offset increases in the food and rent indexes, resulting in the CPI being unchanged over the month, compared to a 1.3% monthly increase from June to July.  The energy index fell 4.6% as the indexes for fuel and natural gas declined, but the index for electricity increased. The food index continued to rise, increasi...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot